Signaturefd LLC Sells 229 Shares of Citizens Financial Group, Inc. $CFG

Signaturefd LLC reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,820 shares of the bank’s stock after selling 229 shares during the period. Signaturefd LLC’s holdings in Citizens Financial Group were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CFG. GAMMA Investing LLC lifted its position in shares of Citizens Financial Group by 3,969.0% during the 1st quarter. GAMMA Investing LLC now owns 499,875 shares of the bank’s stock worth $20,480,000 after buying an additional 487,590 shares during the last quarter. Merit Financial Group LLC raised its position in Citizens Financial Group by 121.1% in the first quarter. Merit Financial Group LLC now owns 44,398 shares of the bank’s stock valued at $1,819,000 after purchasing an additional 24,316 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Citizens Financial Group in the first quarter valued at about $208,000. Park Avenue Securities LLC raised its position in Citizens Financial Group by 0.5% in the first quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank’s stock valued at $2,207,000 after purchasing an additional 289 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Citizens Financial Group by 66.9% in the first quarter. Farther Finance Advisors LLC now owns 7,532 shares of the bank’s stock valued at $306,000 after purchasing an additional 3,018 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Evercore ISI increased their target price on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald assumed coverage on Citizens Financial Group in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price for the company. Keefe, Bruyette & Woods upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research report on Wednesday, July 9th. Wall Street Zen upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. upgraded Citizens Financial Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $48.50 to $52.00 in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $53.95.

Citizens Financial Group Price Performance

Shares of CFG opened at $53.00 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $54.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. The business has a 50-day moving average of $50.60 and a 200-day moving average of $44.37.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group announced that its board has approved a stock repurchase program on Friday, June 13th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the bank to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.06%.

Citizens Financial Group Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.